Corning (NYSE:GLW) Shares Down 2.6% – What’s Next?

Corning Incorporated (NYSE:GLW) shares fell 2.6% on Friday . The stock traded as low as $148.06 and last traded at $148.87. Approximately 6,104,414 shares changed hands during mid-day trading, a decline of 52% from the average daily volume of 12,701,679 shares. The stock had previously closed at $152.80.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GLW shares. Barclays cut their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Mizuho cut their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Citigroup reduced their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Down 2.6%

The company’s 50-day moving average is $171.18 and its 200-day moving average is $164.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm has a market cap of $128.23 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 1.91 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corning

Hedge funds have recently added to or reduced their stakes in the company. Security National Bank lifted its position in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Herbst Group LLC acquired a new stake in Corning in the 2nd quarter valued at $4,474,000. Principal Financial Group Inc. increased its stake in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after buying an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC lifted its position in Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after buying an additional 24,589 shares in the last quarter. Finally, Atlas Wealth LLC boosted its stake in shares of Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after buying an additional 6,998 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.